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STATEMENT OF CONSOLIDATED CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flows From Operating Activities    
Net income $ 1,067 $ 428
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation, depletion and amortization 557 491
Exploratory dry hole costs 0 31
Exploration lease impairment 3 5
Stock compensation expense 39 35
Provision for deferred income taxes and other tax accruals 63 42
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable (359) (202)
(Increase) decrease in inventories (78) (12)
Increase (decrease) in accounts payable and accrued liabilities (294) (23)
Increase (decrease) in taxes payable 10 12
Changes in other operating assets and liabilities (123) (169)
Net cash provided by (used in) operating activities 885 638 Close
Cash Flows From Investing Activities    
Additions to property, plant and equipment - E&P (902) (773)
Additions to property, plant and equipment - Midstream (55) (64)
Other, net 1 4
Net cash provided by (used in) investing activities (958) (841) Close
Cash Flows From Financing Activities    
Net borrowings (repayments) of debt with maturities of 90 days or less 115 103
Debt with maturities of greater than 90 days – Borrowings 0 0
Debt with maturities of greater than 90 days - Repayments (3) 0
Cash dividends paid (137) (137)
Payments for Repurchase of Common Stock 0 (20)
Noncontrolling interests, net (151) (131)
Employee stock options exercised 11 3
Payments on finance lease obligations (3) (2)
Other, net (9) 1
Net cash provided by (used in) financing activities (177) (183) Close
Net Increase (Decrease) in Cash and Cash Equivalents (250) (386) Close
Cash and Cash Equivalents at Beginning of Year 1,688 2,486
Cash and Cash Equivalents at End of Period $ 1,438 $ 2,100